Air France adds €500 million in spending cuts

Air France-KLM has added an extra €500 million ($654 million) to its savings target for 2013-14, in an effort to match the margins of its peers.

By Rob Finlayson
Air France-KLM has added an extra €500 million ($654 million) to its savings target for 2013-14, in an effort to match the margins of its peers. The changes are part of the group’s Transform 2015 restructuring plan.
Earlier this year, the Franco-Dutch airline group outlined plans for a €1.4 billion investment in 2013, followed by a further €1.6 billion in 2014.
However, an Air France spokeswoman said these figures have now been cut by ...